USA: General Mills reports earnings of 54 cents per share in fiscal 2001 third quarter

General Mills today reported record sales and earnings for its fiscal 2001 third quarter. Diluted earnings per share totaled 54 cents, up 8 percent from the 50 cents per share earned in the same period last year. Earnings before interest and taxes increased 5 percent to $295.8 million. Third quarter interest expense was higher, as anticipated, due to increased debt levels associated with prior-year acquisitions and share repurchases. As a result, earnings after tax grew 3 percent to $157.5 million. Sales for the 13 weeks ended Feb. 25, 2001, grew 5 percent to $1.70 billion.

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